Marvell Technology (NASDAQ:MRVL) Rating Lowered to Sell at StockNews.com

Marvell Technology (NASDAQ:MRVL) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

Other equities research analysts have also issued reports about the company. KeyCorp increased their price target on Marvell Technology from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Stifel Nicolaus reissued a “buy” rating and issued a $95.00 price target (up from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. Evercore ISI upped their price objective on Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Jefferies Financial Group initiated coverage on Marvell Technology in a research note on Monday, May 13th. They issued a “buy” rating and a $85.00 price objective for the company. Finally, Benchmark upped their price objective on Marvell Technology from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $91.62.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $74.89 on Tuesday. The business’s 50 day simple moving average is $68.11 and its 200 day simple moving average is $69.66. Marvell Technology has a one year low of $46.07 and a one year high of $85.76. The stock has a market capitalization of $66.37 billion, a PE ratio of -66.27, a PEG ratio of 2.91 and a beta of 1.46. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26.

Marvell Technology (NASDAQ:MRVL) last announced its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the prior year, the business posted $0.18 earnings per share. The firm’s revenue was down 5.1% on a year-over-year basis. As a group, research analysts forecast that Marvell Technology will post 0.77 earnings per share for the current year.

Insider Transactions at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $73.88, for a total transaction of $110,820.00. Following the completion of the transaction, the chief financial officer now owns 109,318 shares of the company’s stock, valued at $8,076,413.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $73.42, for a total value of $367,100.00. Following the completion of the sale, the executive vice president now owns 115,318 shares of the company’s stock, valued at $8,466,647.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $73.88, for a total value of $110,820.00. Following the completion of the sale, the chief financial officer now directly owns 109,318 shares of the company’s stock, valued at approximately $8,076,413.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,500 shares of company stock valued at $4,872,620. 0.33% of the stock is owned by corporate insiders.

Institutional Trading of Marvell Technology

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bruce G. Allen Investments LLC boosted its stake in Marvell Technology by 56.4% in the first quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock worth $28,000 after buying an additional 141 shares in the last quarter. Salomon & Ludwin LLC purchased a new stake in Marvell Technology in the first quarter worth approximately $31,000. Quarry LP purchased a new stake in Marvell Technology in the second quarter worth approximately $32,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Marvell Technology during the second quarter valued at approximately $32,000. Finally, Optimum Investment Advisors bought a new position in shares of Marvell Technology in the first quarter worth approximately $35,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Company Profile

Marvell Technology, Inc, together with its subsidiaries, provides data infrastructure semiconductor solutions, spanning the data center core to network edge. The company develops and scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.